Madison New Jersey Real Estate
Madison, New Jersey, is located in Morris County, 7 miles S of Parsippany, New Jersey and 22 miles W of New York, New York. Madison has a population of 16,530.
Madison Homes
Madison properties pool is 5,520 residential properties including Madison new homes. Median age of real estate in Madison is 1953. Average Household size is 3.05 people. 2% are one bedroom homes, 11% are 2 bedroom homes, 40% are 3 bedroom homes, 33% are 4 bedroom homes, and 14% are 5+ bedroom homes.
Madison Mortgage Statistics
Madison mortgages vs. USA median statistics
| Homes |
Madison |
USA |
| Homes With No Mortgage |
30% |
30% |
| Homes With Mortgage |
70% |
70% |
| First Mortgage Only |
52% |
54% |
| First & Second Mortgage or HELOC |
17% |
16% |
Madison Area Real Estate Tax
Madison Real estate Tax: Median Real Estate Taxes (2000) were $5,540 comparing to 1999 Median Family income $ 101,798. Compare to USA median yearly Real Estate Tax $1,300 and USA median Family Income $42,000 (1999).
Madison School District: Children make up 20.6% of Madison population. Madison has 3,404 under 18 years old residents, or 0.43 kids per one worker, or 0.62 kids per one household.
Madison Real Estate & Madison Homeownership
There are 1435.2 or 26% one person households, 1876.8 or 34% two person households, and 883.2 or 16% three person households in Madison, New Jersey. Median residents age is 34.3, Senior citizens (65+) make up 2,157 or 13%% of Madison population.
There are 7,923 workers (over 16 years of age) in Madison. Of these, 75.59% drive to work. Approximately 9.24% of workers in Madison take public transportation. An estimated 9.35% walk to work.
Median Madison homeowner's housing expences are 19.9%
Crime in Madison (2003), crimes per 10,000 residents per year
| Type of Crime |
Madison |
USA, 2003 |
| Violent Crimes |
6.65 |
47.5 |
| Robberies |
1.21 |
14.2 |
| Aggravated Assaults |
3.63 |
29.5 |
| Property Crimes |
90.14 |
358.8 |
| Burglaries |
13.91 |
74.0 |
| Larceny-Thefts |
71.39 |
241.5 |
| Motor Vehicle Thefts |
4.84 |
43.3 |
Invest in Madison Properties
When making a decision about buying real estate in Madison New Jersey area, you should consider following statistical data:
| Category |
Madison |
USA |
| Near Medium City |
Parsippany, New Jersey |
- |
| Near Large City |
New York, New York |
- |
| Madison Zip Codes |
07940 |
- |
| Madison Area Codes |
973 |
- |
| White population |
89.69% |
75.1% |
| African-American population |
3% |
12.3% |
| Asian |
3.77% |
3.6% |
| American Indian & Alaskan |
0.13% |
0.9% |
| Hispanic (of any race) |
5.97% |
12.5% |
| Median Family Income (1999) |
$ 101,798% |
$42,000 |
| Population Below Poverty Level |
2.84% |
12.4% |
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